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Author Topic: [FEB 2020] Fees are low, use this opportunity to Consolidate your small inputs!  (Read 28948 times)
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jackg
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October 22, 2019, 04:50:39 PM
 #161

Please, tell me if I accidentally put into consolidation list those inputs which may be pertaining to the "dust attack", could that threaten  my privacy?


Yes? If you consolidate small inputs you don't recognise then they couldve been sent to you as a dust attack.

Most wallets will let you pick which inputs you want to consolidate with coin control features (and those that don't may have a way of exporting seeds and keys to electrum of bitcoin core for example if you're confident doing it).

If you have enough dust you might want to donate it to someone who doesn't care about dust attacks or just send the funds to another key you own on a separate wallet and leave them there as there's no reason why you shouldn't use them if they're worth using (you could store it for when you want to buy something with it for example if you got like 0.0001-0.001 from dust attacks - I don't know whether there's a chance they can get multiple addresses from the same wallet).

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October 23, 2019, 08:19:17 PM
 #162

Quote
Summary
Size    386 (bytes)
Weight    896
Received Time    2019-10-23 12:25:57
Lock Time    Block: 600699
Included In Blocks    600731 ( 2019-10-23 16:35:47 + 250 minutes )

Inputs and Outputs
Total Input    xxxxx.xxxxxxxx BTC
Total Output    xxxxx.xxxxxxxx BTC
Fees    0.00000224 BTC
Fee per byte    0.58 sat/B
Fee per weight unit    0.25 sat/WU

Below 1 sat is possible! Wait only 32 blocks.

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October 24, 2019, 05:37:51 AM
 #163

Quote
Summary
Size    386 (bytes)
Weight    896
Received Time    2019-10-23 12:25:57
Lock Time    Block: 600699
Included In Blocks    600731 ( 2019-10-23 16:35:47 + 250 minutes )

Inputs and Outputs
Total Input    xxxxx.xxxxxxxx BTC
Total Output    xxxxx.xxxxxxxx BTC
Fees    0.00000224 BTC
Fee per byte    0.58 sat/B
Fee per weight unit    0.25 sat/WU

Below 1 sat is possible! Wait only 32 blocks.

you should seriously stop using blockchain.com explorer (or any others that are similar) to look at things. it is literary the worst explorer out there at this point and they refuse to fix their bugs although their platform is filled with them.

just as we no longer have "block size" and instead have "block weight", we no longer have transaction size and instead we have "virtual transaction size" and fees are calculated based on that.
your virtual tx size is your transaction weight (896) divided by 4 and rounded up = 224 which makes your fee 1 satoshi/vb

use https://btc.com explorer to see these numbers.

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October 24, 2019, 03:12:31 PM
 #164

Force of habit, Sorry! In fact I keep using their .info domain TLD extension. Still using core wallet and had it set to 1 sat too, so I guess that worked. Slowly weening my way to Electrum ... but since I still have my full node, I might run my own Electrum server.

Got a list of other block explorers that are "good"?

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October 24, 2019, 05:32:46 PM
 #165

Force of habit, Sorry! In fact I keep using their .info domain TLD extension. Still using core wallet and had it set to 1 sat too, so I guess that worked. Slowly weening my way to Electrum ... but since I still have my full node, I might run my own Electrum server.

Got a list of other block explorers that are "good"?

don't worry i do that regularly myself too. specially since when i type in my address bar my history brings it up Tongue

as for other explorers, the best one is http://blockchair.com/ at the moment that has a ton of features specially if you are interested in sorting and analyzing the blockchain data in your browser.
https://btc.com/ that i mentioned above is decent since it has all those different size values.
there is also https://live.blockcypher.com/ that has a bunch of other altcoins including Grin
there is https://www.blockonomics.co/ which (i think) has the only API that supports SegWit
https://www.smartbit.com.au/ also has some nice features such as exploring OP_Return outputs

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October 30, 2019, 11:03:52 PM
 #166

--snip--

1 sat/byte is still possible!

I'm trying to get an exact time duration that it will take in order to confirm that transaction (at least an average would do) that if I send 1 sat/byte, how long do I need to wait before I can get it included in a block? Many explorers are now being proven wrong by the miners considering a lot of fluctuations in the minimum fee structure due to the market price volatility.

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October 30, 2019, 11:51:32 PM
 #167

Under current mempool analysis, it seems that 1 sat per byte puts you less than 1mb from the tip of the mempool (according to electrum). This means it should currently take 10 minutes.

I'd personally suggest it will take a maximum of about 6 hours on normal blockchain bloat (can be 24 sometimes). It should almost definitely confirm within a week though unless wer see huge spikes in the number of transactions.

It's hard to give accurate estimates as so much can change...

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October 31, 2019, 07:44:56 AM
 #168

Many explorers are now being proven wrong by the miners considering a lot of fluctuations in the minimum fee structure due to the market price volatility.
I now mostly use Bitcoin Core's estimate:
Image loading...
Currently, 4 hour(s) is the lowest estimate for 1 sat/byte. I think this is based on the fees seen in the past 4 hours. If fees suddenly go up, it can take much longer. Fees are usually lowest in the weekend, so if for instance you make this transaction right before the Monday traders wake up, it could take much longer.

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November 21, 2019, 06:48:07 PM
 #169

--snip--

1 sat/byte is still possible!

I'm trying to get an exact time duration that it will take in order to confirm that transaction (at least an average would do) that if I send 1 sat/byte, how long do I need to wait before I can get it included in a block? Many explorers are now being proven wrong by the miners considering a lot of fluctuations in the minimum fee structure due to the market price volatility.

last days I have sent 1 TX with 1sat/byte, it was confirmed during 24 hours

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November 21, 2019, 07:45:16 PM
 #170

3 sats per byte is looking like it could confirm within 2-4 blocks so I'd say 1 sat per byte would probably take about 4 hours if sent now (but it might take more).

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November 22, 2019, 03:34:05 PM
 #171

I'd say the bitcoinfees.earn.com site is fairly accurate in estimating. The api from there shows me the fastest fee and a 1 hour fee. If the 1 hour fee is close to 20 or 10 sats or even lower, then it's just a matter of a few hours more for 1 sat fee.

My 1 sat fee transactions have usually confirmed in 24 hours, but sometimes could take as long as 48.

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November 22, 2019, 07:09:29 PM
 #172

I'd say the bitcoinfees.earn.com site is fairly accurate in estimating. The api from there shows me the fastest fee and a 1 hour fee. If the 1 hour fee is close to 20 or 10 sats or even lower, then it's just a matter of a few hours more for 1 sat fee.

My 1 sat fee transactions have usually confirmed in 24 hours, but sometimes could take as long as 48.

I just checked the API and it's more accurate than i expected (compared with their website which tends to give overly high fee recommendation)
It's not as good as recommendation from other website or reading the chart manually though.

1 sat/byte purely depends on how many pending transaction and how many user who're not in hurry

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November 22, 2019, 07:13:21 PM
 #173

I just checked the API and it's more accurate than i expected (compared with their website which tends to give overly high fee recommendation)
It's not as good as recommendation from other website or reading the chart manually though.

1 sat/byte purely depends on how many pending transaction and how many user who're not in hurry

I was under the impression that that site was crappy but maybe it's improved. I use bitcoinfees.net these days. I can't be bothered to figure out the jochen-hoenicke site. It might be a piece of piss with a few minutes of study but my mind is ossifying and I need spoon feeding both literally and figuratively these days.

Maybe it's all moot when things are quiet. The test of these sites and their estimates are when demand is high.

I'd like to know who supplies the estimates for the wallets with fee control.

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November 22, 2019, 07:19:13 PM
 #174

I'd like to know who supplies the estimates for the wallets with fee control.
I would guess it's just based on the last blocks, similar to what Bitcoin Core Recommends.

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November 22, 2019, 10:09:54 PM
 #175

I'd like to know who supplies the estimates for the wallets with fee control.
I would guess it's just based on the last blocks, similar to what Bitcoin Core Recommends.

The site says:

Quote
How is the delay predicted?

The predictions are based on blockchain data of the last 3 hours, as well as the current pool of unconfirmed transactions (mempool).
First, a likely future mempool and miner behavior is predicted using Monte Carlo simulation. From the simulations, it can be seen how fast transactions with different fees are likely to be included in the upcoming blocks.
The predicted delay shown here is chosen to represent a 90% confidence interval.

I haven't tried this but if you use electrum, try setting it to be 0.5mb from tip as the fees will be lower and it should confirm within 4 blocks if you're really unlucky (if you're not in a rush use 1 sat per byte as long as its less than about 16mb from the tip it should confirm within a day).

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November 25, 2019, 02:45:56 PM
 #176

Sometime during the weekend, I was sent a token amount, so I decided to forward it to another address and set a 1 sat fee. I noted that the 1 hour estimated fee was 4 sats.

It confirmed about 11 minutes later. 1 sat for less than 0.003 BTC. I was expecting it to take at least 4 hours later, but ... 11 minutes it got included in the next block.

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November 25, 2019, 07:39:59 PM
 #177

Yeah yesterday, to get a transaction 0.5mb from the tip of the mempool set you back 1 sat per byte.

Today is another day and fees aren't low anymore! 9 sats per byt will get you 10 mb from the top.

If you need a conf within the week, send at 1 sat per byte, within 24 hours you're now looking at about 10 sats per byte... Be strategic with dust consolidation!

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November 26, 2019, 02:23:34 PM
 #178

It might not even take a week if you broadcast a tx right now at 1 sat. Maybe a day or two. I've never had a tx take longer than 3 or 4 days, except when zero fees were still being accepted (or relayed), a long time ago.

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November 30, 2019, 11:32:16 PM
 #179

Yes, today is a good day to consolidate your small inputs. 1 sat/byte is possible for a few hours already. I had one transaction receive the first confirmation in one hour with 1 sat/byte and that is still the recommended fee as we speak. The fees might go up after the weekend so do it now while they are low.
https://coinb.in/#fees 

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December 02, 2019, 02:52:32 PM
 #180

I just sent a 1 sat transaction awhile ago, maybe an hour ago. It was about 2 mb from the tip, now it's about 1.94 mb from the tip. So maybe by the end of the day it will have confirmed.

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